Question
Find the future value of the following ordinary annuities. A) FV of 800 each month for 4 years at a nominal rate of 8 percent
Find the future value of the following ordinary annuities. A) FV of 800 each month for 4 years at a nominal rate of 8 percent compounded semiannual .Do not round intermediate calculations .Round your answers to the nearest cent B) FV of 400 each month for 4 years at a nominal rate of 8 percent compounded quarterly. C) the annuities described in parts a and b have the Same amount of money paid into them during the 4 years period and both earn interest at the same nominal rate yet the annuity in part b earns more than the one in part a over the 4 years. why
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